PJT Partners (NYSE:PJT) Sets New 52-Week High – Still a Buy?

PJT Partners Inc. (NYSE:PJT) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $192.09 and last traded at $190.54, with a volume of 101868 shares. The stock had previously closed at $188.10.

Wall Street Analysts Forecast Growth

PJT has been the topic of several research reports. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. BMO Capital Markets initiated coverage on PJT Partners in a research note on Friday, October 3rd. They issued an “outperform” rating and a $205.00 target price on the stock. UBS Group initiated coverage on PJT Partners in a research report on Thursday, December 11th. They set a “neutral” rating and a $180.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $186.00 to $188.00 and gave the stock a “market perform” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $180.60.

PJT Partners Stock Performance

The firm has a fifty day simple moving average of $171.84 and a 200 day simple moving average of $175.96. The company has a market cap of $4.55 billion, a PE ratio of 28.81 and a beta of 0.84.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.61. The company had revenue of $447.09 million during the quarter, compared to analysts’ expectations of $386.76 million. PJT Partners had a net margin of 10.75% and a return on equity of 29.66%. As a group, equities analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.00 annualized dividend and a yield of 0.5%. PJT Partners’s dividend payout ratio (DPR) is 15.38%.

Institutional Investors Weigh In On PJT Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PJT. Cresset Asset Management LLC boosted its stake in shares of PJT Partners by 105.4% during the 2nd quarter. Cresset Asset Management LLC now owns 21,536 shares of the financial services provider’s stock valued at $3,554,000 after buying an additional 11,053 shares during the last quarter. Congress Asset Management Co. raised its holdings in PJT Partners by 5.4% in the third quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider’s stock valued at $94,442,000 after acquiring an additional 27,232 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in PJT Partners by 36.5% in the second quarter. Mutual of America Capital Management LLC now owns 65,784 shares of the financial services provider’s stock valued at $10,855,000 after acquiring an additional 17,602 shares in the last quarter. Truist Financial Corp boosted its stake in PJT Partners by 16.8% during the 2nd quarter. Truist Financial Corp now owns 9,871 shares of the financial services provider’s stock valued at $1,629,000 after acquiring an additional 1,420 shares during the last quarter. Finally, Flputnam Investment Management Co. grew its holdings in PJT Partners by 874.1% during the 3rd quarter. Flputnam Investment Management Co. now owns 68,155 shares of the financial services provider’s stock worth $12,113,000 after acquiring an additional 61,158 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.